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Tue, 7 Dec 2010 06:57:53 -0800 |
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"At first glance it appears companies could buy spoliation insurance, spend less
money on RIM/eDiscovery and take their chances that if information assets
relating to litigation were lost or destroyed, the spoliation insurance would
cover them..."
I don't think that is the case. In the press release (and note that it is a
press release, not a copy of the policy), there is this statement:
"This breach involves the failure to preserve property of evidentiary
value belonging to others that is in the care, custody and control of the
insured."
So it looks like if you are a third party involved in litigation and you lose
some material evidence, the policy will cover any loss you incur. It doesn't
look like a company can dodge their responsibilities to preserve evidence. My
guess is that there are exclusions for willful destruction or other malfeasance.
I think this is to insulate a small professional services firm if it gets caught
up in a client's litigation and somehow drops the ball.
If anything, I could see these sorts of policies covering disasters that result
in spoliation decisions or other accidental loss of critical evidence. I would
expect that there are all sorts of caveats.
Patrick Cunningham, CRM, FAI
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"Perpetual optimism is a force multiplier."
-- Colin Powell
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